Russia to Curb Officials' Holdings

By

Lukas I. Alpert

Feb. 12, 2013 10:04 a.m. ET

MOSCOW—President Vladimir Putin sent a bill to Russia's parliament Tuesday calling for a blanket ban on public officials and their families from setting up bank accounts or holding stocks or bonds overseas, as part of a wider effort to tackle corruption and stem capital flight.

Russian officials have long been criticized for parking money abroad. In his state-of-the-nation address in December, Mr. Putin said the practice had undermined trust in the system, giving the impression that state officials were corrupt and had...